KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trade with a bearish bias next week, weighed down by persistent weakness in the soybean oil and crude oil markets.

Palm oil trader David Ng said the recent downtrend in soybean oil and crude oil prices is likely to limit gains in the CPO market, as these external markets heavily influence palm oil sentiment.

"Soybean oil and palm oil compete in the global vegetable oil market, and when soybean oil prices decline, buyers may shift towards it, reducing demand for palm oil.

"We expect prices to trade between RM4,050 and RM4,200 per tonne next week," he told Bernama.

On a weekly basis, the July 2025 contract rose RM75 to RM4,070 per tonne, while August 2025 gained RM91 to RM4,144 per tonne.

September 2025 increased RM112 to RM4,174 per tonne, October 2025 climbed RM113 to RM4,177 per tonne, November 2025 added RM109 to RM4,174 per tonne, and December 2025 advanced RM103 to RM4,175 per tonne.

The weekly trading volume increased to 435,464 lots from 253,182 lots in the previous week, while open interest went up to 231,427 contracts from 226,243 contracts.

The physical CPO price for July South increased by RM110 to RM4,160 per tonne.